Trustees Managing Tough Times – Adapting to the New Normal!!

The AMNT and XPS Pension Group joined forces to survey member nominated trustees, to see how they have managed through the Coronavirus crisis.

The outcomes of the 'AMNT and XPS Pension Group Survey' are now available and we are fortunate to have Jonathan Stapleton, of Professional Pensions, to talk about the key findings and to interpret what Trustees should be doing in order to understand the strategic consequences and how to put in place effective action plans to address the issues raised.

The Key Findings included:

  • Since the pandemic, Trustee duties have become more onerous, with greater scrutiny from The Pensions Regulator and much stricter regulations. Many of our surveyed members find this difficult to assimilate and are considering their future role. Attracting new Trustees is becoming much more difficult?
  • Whilst 'Consolidation' did not figure highly in the members surveyed, there is now greater emphasis, in the pensions world, on new market products that will enable sponsors to escape the world of pension liabilities. Should Trustees be concerned?
  • The pandemic has been instrumental in the adoption of new technologies, with the abandonment of many 'face to face' meetings. Some of our surveyed members find this a retrograde step, but others believe this to be a way to improve effectiveness and decision making?
  • Trustee education is vital and a majority of our members believe their should be a compulsory trustee qualification! Trustee board diversity is also important, but many of our members surveyed fall within a narrow range regards gender and age! How can pension schemes manage this dynamic?
  • Trustees must now provide details of their investment strategy and engagement policy with investee companies, as part of their Statement of Investment Principles. Our surveyed members have not been swayed to change their ESG views, as a result of the pandemic. Is this 'good or bad'?
  • Uncertainty and greater volatility are now becoming the accepted 'normal'. How should Trustees manage this situation?

This webinar will look to explore and reach an understanding on these issues. Apart from Jonathan Stapleton, of Professional Pensions, we also have Robert Wallace, of XPS Pensions Group, to examine whether there are any simple answers or is it 'back to the drawing board?

Please register your interest in attending this webinar. We not only want to educate our members on the effects of these key issues, but to learn from our members what matters to you and how you are adapting to the new normal!

If you have any specific questions you'd like to ask the speakers, then please submit them in advance, when registering.

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11th December 2020 at 10:30 - 11:30

Speakers

Robert Wallace

Robert Wallace

Partner XPS

Rob is a Partner at XPS Pensions Group. He is Scheme Actuary to a number of schemes with assets ranging from £10m to £1.5bn. He is head of the Governance Solutions Team at XPS, with a focus on helping companies and trustees understand and manage their pension risks.

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